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Cable Update (GBPUSD)

  • #723,901
  • Jan 27, 2023 3:11am Jan 27, 2023 3:11am
time to drop
tp 1.23200
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yes yes yes
  • #723,902
  • Jan 27, 2023 3:15am Jan 27, 2023 3:15am
Quoting pipcenturion
There is now a demand level at 1.23705
Okay so price has gone to test yesterday's VAP supply level at 1.23851 like I said earlier.

Regarding the newly formed demand level at 1.23705 IT WILL NOT HOLD!!!! Price will trade through it.

Reason: after price tests a VAP supply level, it needs to go towards the low of that day. Usually it should break to the downside. So I expect yesterday's low to be broken to the down side.
  • #723,903
  • Jan 27, 2023 3:21am Jan 27, 2023 3:21am
Morning, still dip to the lows is possible.
Only green trendline is the question.
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  • #723,904
  • Jan 27, 2023 3:23am Jan 27, 2023 3:23am
Quoting pipcenturion
{quote} Okay so price has gone to test yesterday's VAP supply level at 1.23851 like I said earlier. Regarding the newly formed demand level at 1.23705 IT WILL NOT HOLD!!!! Price will trade through it. Reason: after price tests a VAP supply level, it needs to go towards the low of that day. Usually it should break to the downside. So I expect yesterday's low to be broken to the down side.
Which is consistent with the potential pivot point that Pat Chiko identified a few hours ago.
  • #723,905
  • Jan 27, 2023 3:39am Jan 27, 2023 3:39am
Quoting Indiara
{quote} Hi Kashif, you are right in what you say, but the 'cure' for me is not so much to close half the position and let the other half run, neither is it to open 2, 1/2 sized positions, although both ideas would work. My problem is more simple to fix than that, and it is my lack of discipline and greed, to be honest! My entries are reasonably good I think, at least I hardly ever have to suffer much drawdown, so that part of my trading is good. My plan for 2023 is to target 20 pips every day and to compound the lot size to hopefully, build a nice...
That's is what I have learned in this group since joining forexfactory again (my old account was in 2011), I have learned to be disciplined other wise a looser. I learned a Lot from Mr. T721, Mr. Teek, Price Action from Mr. Sang Rea (Pat Chiko) l and from Indiara. I had a routine to check and analyze your entries, and finally get to the conclusion that this is such a power full method to have 80% success with at least 1:2 risk reward.
You are half of my age, but I respect those from core of my heart who directly or indirectly added to my success.

Be HAPPY with you beloved MOTHER (hope she will be fine now).
A lot of Love & Respect to younger SISTER.
  • #723,906
  • Jan 27, 2023 3:47am Jan 27, 2023 3:47am
@PAT and DrDave,

I have been expecting GU to sell until 1.18XX for a few days now.

I can finally see where all these is going.

Once and if the 1.2326 RSF level is broken to the down side, we will see 1.19 or slightly lower.

Interesting times are here!
  • #723,907
  • Jan 27, 2023 3:51am Jan 27, 2023 3:51am
Quoting pipcenturion
@PAT and DrDave, I have been expecting GU to sell until 1.18XX for a few days now. I can finally see where all these is going. Once and if the 1.2326 RSF level is broken to the down side, we will see 1.19 or slightly lower. Interesting times are here!
Agree imo weekly chart showing new low.. below parity.

first we take out 1.226 the bears will enter with lots of power.
until than im playing both sides and not feeling comfy.
  • #723,908
  • Jan 27, 2023 3:53am Jan 27, 2023 3:53am
The second GU short is a miss!
Arrived with light luggage.
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  • #723,909
  • Jan 27, 2023 3:56am Jan 27, 2023 3:56am
Quoting palpite
sell - 1.2350 stop loss - 1.2375
Quoting palpite
add sell - 1.2375
Quoting palpite
add sell - 1.2401

trades closed - 1.2369
Together we can be strongest
Vantage Return This Month: na
  • #723,910
  • Jan 27, 2023 3:56am Jan 27, 2023 3:56am
Quoting pipcenturion
@PAT and DrDave, I have been expecting GU to sell until 1.18XX for a few days now. I can finally see where all these is going. Once and if the 1.2326 RSF level is broken to the down side, we will see 1.19 or slightly lower. Interesting times are here!
I don't believe they are suggesting straight to that level but I believe that is the goal.
  • #723,911
  • Jan 27, 2023 3:59am Jan 27, 2023 3:59am
Next week is FOMC, BOE, ECB, NFP. I don't think any serious money will enter these markets before we* they know the figures. So until then I'm strictly on quick scalping mode. And if anyone is thinking of skipping a week I think the next one is going to be the one.

*Note, that this might not be at the time the actual releases are scheduled it can be much earlier. Surely, there will be plenty of signs of the big boys getting the numbers early. But still, we won't know until the figures actually are released whether it's a fakeout or genuine trend.
  • #723,912
  • Jan 27, 2023 3:59am Jan 27, 2023 3:59am
Are we selling? I still don't see it. I need a firm daily close below 2330. I will watch carefully to see what NY does today. I kind of feel the play book will be a sell this morning and NY will buy into the close. If that happens then Monday it will rise all the way up. However, my invalidation would be a daily/weekly close today below 2330.

Please, I am still holding my buy from 2383 since yesterday. It went into profit many times but I didn't want to close it. I will hold for 2450 or a daily/weekly close today below 2330. I might scalp both ways whilst holding this same buy.

Cheers and good morning.
  • #723,913
  • Jan 27, 2023 4:02am Jan 27, 2023 4:02am
Quoting pipcenturion
@PAT and DrDave, I have been expecting GU to sell until 1.18XX for a few days now. I can finally see where all these is going. Once and if the 1.2326 RSF level is broken to the down side, we will see 1.19 or slightly lower. Interesting times are here!
the next week or so will be very interesting if the BoE indicates that the next rate rise is the last for a while the pound should tank. That along with the current economic crisis in the UK.

the barriers are of course the now. Bullish pressure is stopping the drop for time being and I think we could breach 125 before anything too
Insane in the Brain..
  • #723,914
  • Jan 27, 2023 4:04am Jan 27, 2023 4:04am
Quoting Coreg2004
{quote} Mitiblotch, that is what today's data suggests but the DX index might not cooperate.{image}and the daily chart{image}
How long did it take you to learn Elliott Waves?
Many people are saying learning Elliott Waves is among the most difficult subjects to learn and takes a really long time before someone even learns it properly let alone mastering it.

Some people also say it's very subjective. Asking five traders will result in five different analysis.
  • #723,915
  • Jan 27, 2023 4:05am Jan 27, 2023 4:05am
Quoting Mitiblotch
Are we selling? I still don't see it. I need a firm daily close below 2330. I will watch carefully to see what NY does today. I kind of feel the play book will be a sell this morning and NY will buy into the close. If that happens then Monday it will rise all the way up. However, my invalidation would be a daily/weekly close today below 2330. Please, I am still holding my buy from 2383 since yesterday. It went into profit many times but I didn't want to close it. I will hold for 2450 or a daily/weekly close today below 2330. I might scalp both ways...
You might want to check Pat Chiko's posts and pipcenturion for some ideas.
  • #723,916
  • Jan 27, 2023 4:06am Jan 27, 2023 4:06am
GU

Second trade
LONG
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #723,917
  • Jan 27, 2023 4:09am Jan 27, 2023 4:09am
Quoting Indigo45
{quote} That's is what I have learned in this group since joining forexfactory again (my old account was in 2011), I have learned to be disciplined other wise a looser. I learned a Lot from Mr. T721, Mr. Teek, Price Action from Mr. Sang Rea (Pat Chiko) l and from Indiara. I had a routine to check and analyze your entries, and finally get to the conclusion that this is such a power full method to have 80% success with at least 1:2 risk reward. You are half of my age, but I respect those from core of my heart who directly or indirectly added to my...
Thank you for your kind words and for your insight into my trading. Trading is not easy, but it is also not hard. The hardest part of trading is our own self and our ability to be disciplined enough to follow our own plan. I try hard to achieve this, but as you have seen, sometimes I lose sight of the goal and short term greed takes over. This happens not so often now as it did in the past but I will try hard to not let it back into my trading. At least this week, even though I did not meet my goal, I will end with profit, and I have not lost a trade so far this year. So these are positives to take away from a poor week and this makes me smile

There are some great traders here of all ages and I think that we can succeed if we all help each other
I am neither brave nor stupid...I am just a part time trader
  • #723,918
  • Jan 27, 2023 4:09am Jan 27, 2023 4:09am
Quoting Pat Chiko
{quote} UJ closed scalp. Waititng for next set up Going for RT{image}
Bravo
  • #723,919
  • Jan 27, 2023 4:11am Jan 27, 2023 4:11am
Quoting Coreg2004
{quote} SnailFX, I missed your post yesterday, sorry. Here is my take on how I see it. Check your wave (3) and compare it to the rules. {image} {image}
Thanks for this reply! It helped me clear some things out.
I am reading Elliott Wave Principle by A.J. Frost.
  • #723,920
  • Jan 27, 2023 4:11am Jan 27, 2023 4:11am
UJ

Scalp SHORT
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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